Bill Text: NY S09222 | 2023-2024 | General Assembly | Introduced
Bill Title: Creates the jockey health insurance reserve fund for the payment of premiums not yet paid; provides for the return of funds if such reserve fund becomes no longer necessary.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed) 2024-06-05 - referred to racing and wagering [S09222 Detail]
Download: New_York-2023-S09222-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 9222 IN SENATE May 6, 2024 ___________ Introduced by Sen. ADDABBO -- read twice and ordered printed, and when printed to be committed to the Committee on Racing, Gaming and Wager- ing AN ACT to amend the racing, pari-mutuel wagering and breeding law, in relation to the creation of the jockey health insurance reserve fund The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subdivision 1 of section 221-a of the racing, pari-mutuel 2 wagering and breeding law, as amended by chapter 243 of the laws of 3 2020, is amended to read as follows: 4 1. A franchised corporation shall, as a condition of racing, establish 5 a program to administer the purchase of health insurance for eligible 6 jockeys. 7 Such program shall be funded through the deposit of one and one-half 8 percent of the gross purse enhancement amount from video lottery gaming 9 at a thoroughbred track pursuant to paragraph two of subdivision b and 10 paragraph one of subdivision f of section sixteen hundred twelve of the 11 tax law. The franchised corporation shall establish a segregated account 12 for the receipt of these monies and these monies shall remain separate 13 from any other funds. Any corporation or association licensed pursuant 14 to this article shall pay into such account any amount due within ten 15 days of the receipt of revenue pursuant to section sixteen hundred 16 twelve of the tax law. Any portion of such funding to the account unused 17 during a calendar year, less an amount sufficient to cover anticipated 18 premium liabilities over the next sixty days, shall be returned on a pro 19 rata basis in accordance with the amounts originally contributed and 20 shall be used for the purpose of enhancing purses at such tracks. 21 Provided, however, if a corporation or association licensed pursuant to 22 this article provides an alternative source of funding for this program, 23 an amount equal to this alternative funding, but not in excess of the 24 amount originally contributed during the year from the gross purse 25 enhancement amount from video lottery gaming attributable to such corpo- 26 ration or association, shall be returned to the corporation or associ- 27 ation and used for the purpose of enhancing purses at such track. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD15452-01-4S. 9222 2 1 Provided, further, any such alternative source of funding must be 2 approved by the commission. Provided, however, an additional segregated 3 account may be established with such monies as a reserve fund for the 4 payment of premiums not yet paid. The amount paid into such fund during 5 any calendar year, if any, shall be upon the approval of the franchised 6 corporation and the jockey's organization that represents at least 7 fifty-one percent of eligible active jockeys. If, after the establish- 8 ment of such fund, a determination is made that such fund is no longer 9 needed, the monies remaining in such fund shall be returned on a pro 10 rata basis in accordance with the amounts originally contributed and 11 shall be used for the purposes of enhancing purses at such tracks. 12 § 2. This act shall take effect immediately.
